Greenacres, FL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Greenacres, FL Housing Market Trends

With a population of 41,117, 13,986 total housing units (homes and apartments), and a median house value of $202,823, Greenacres real estate and house prices are near the national average for all cities and towns.

Large apartment complexes or high rise apartments are the single most common housing type in Greenacres, accounting for 33.92% of the city's housing units. Other types of housing that are prevalent in Greenacres include single-family detached homes ( 31.69%), row houses and other attached homes ( 21.58%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.06%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Greenacres primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Greenacres has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Greenacres built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Greenacres built between 2000 and later ( 18.59%). A lesser amount of the housing stock also hails from between 1940-1969 ( 5.19%).

Vacant housing appears to be an issue in Greenacres. Fully 15.52% of the housing stock is classified as vacant. Left unchecked, vacant Greenacres homes and apartments can be a drag on the real estate market, holding Greenacres real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Greenacres Home Appreciation Rates

In the last 10 years, Greenacres has experienced some of the highest home appreciation rates of any community in the nation. Greenacres real estate appreciated 163.23% over the last ten years, which is an average annual home appreciation rate of 10.16%, putting Greenacres in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Greenacres definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Greenacres that despite a nationwide downturn in the housing market, Greenacres real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Greenacres appreciation rates continue to be some of the highest in America, at 13.42%, which is higher than appreciation rates in 91.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Greenacres. Greenacres appreciation rates in the latest quarter were at 3.60%, which equates to an annual appreciation rate of 15.18%.

Importantly, this makes Greenacres one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Florida, our data show that Greenacres's latest annual appreciation rate is higher than 80% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Greenacres differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Greenacres - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Greenacres real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$202,823

Greenacres, FL HOME PRICES

> $1,418,000
0.1%
0.1%
$1,063,001 - $1,418,000
0.0%
0.0%
$709,001 - $1,063,000
0.9%
0.9%
$567,001 - $709,000
1.9%
1.9%
$425,001 - $567,000
9.6%
9.6%
$284,001 - $425,000
23.7%
23.7%
$142,001 - $284,000
35.5%
35.5%
$71,001 - $142,000
15.7%
15.7%
$0 - $71,000
12.6%
12.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Low for FL

Value Relative To Nation

Number Of Homes And Apartments:
13,986

Greenacres Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
163.27% 4.61%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,852 / per month

Homeownership Rate

Owners
62.7%
62.7%
Renters
37.3%
37.3%
Vacant
15.5%
15.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.6%
18.6%
1970 - 1999
75.5%
75.5%
1940 - 1969
5.2%
5.2%
1939 or Older
0.8%
0.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
31.7%
31.7%
Townhomes
21.6%
21.6%
Small Apt. Buildings
9.1%
9.1%
Apt. Complexes
33.9%
33.9%
Mobile Homes
3.6%
3.6%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.0%
1.0%
1 Bedroom
4.9%
4.9%
2 Bedrooms
49.5%
49.5%
3 Bedrooms
36.8%
36.8%
4 Bedrooms
5.1%
5.1%
5 or more bedrooms
2.7%
2.7%
0.0% 100.0%
% OF HOMES